SeaBridge Investment Advisors LLC Purchases Shares of 27,451 Biohaven Ltd. (NYSE:BHVN)

SeaBridge Investment Advisors LLC acquired a new stake in Biohaven Ltd. (NYSE:BHVN) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,451 shares of the company’s stock, valued at approximately $1,501,000.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in Biohaven by 7.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 12,188 shares of the company’s stock worth $667,000 after buying an additional 830 shares during the period. Cypress Wealth Services LLC bought a new position in shares of Biohaven in the 1st quarter worth $326,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Biohaven in the 4th quarter valued at $10,828,000. Goldman Sachs Group Inc. increased its stake in Biohaven by 8.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 945,715 shares of the company’s stock valued at $40,477,000 after purchasing an additional 71,850 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after buying an additional 973,227 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insider Transactions at Biohaven

In other news, Director Gregory Bailey acquired 48,780 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the acquisition, the director now owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John W. Childs acquired 28,500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $35.17 per share, for a total transaction of $1,002,345.00. Following the completion of the transaction, the director now owns 2,283,341 shares of the company’s stock, valued at $80,305,102.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Bailey bought 48,780 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average price of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the purchase, the director now directly owns 1,574,568 shares in the company, valued at $64,557,288. The disclosure for this purchase can be found here. Insiders purchased a total of 252,734 shares of company stock worth $9,997,764 in the last quarter. Insiders own 16.00% of the company’s stock.

Biohaven Stock Up 0.9 %

Biohaven stock traded up $0.30 during mid-day trading on Friday, reaching $34.09. 558,629 shares of the company’s stock were exchanged, compared to its average volume of 1,284,605. The business’s fifty day simple moving average is $36.06 and its 200 day simple moving average is $43.83. Biohaven Ltd. has a one year low of $16.45 and a one year high of $62.21. The firm has a market capitalization of $3.01 billion, a PE ratio of -4.99 and a beta of 1.32.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share for the quarter, missing the consensus estimate of ($1.50) by ($0.70). On average, sell-side analysts forecast that Biohaven Ltd. will post -7.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BHVN shares. HC Wainwright reissued a “buy” rating and set a $59.00 target price on shares of Biohaven in a research report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, June 18th. Finally, UBS Group increased their price target on Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $54.71.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.